Van Den Berg Management I, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Van Den Berg Management I, Inc. reported 110 stock positions worth $351.8 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 6.2% of the portfolio, followed by Exxon Mobil (XOM, 4.8%) and Coherent (COHR, 3.9%). Compared with Q1 2025, it opened 10 new positions, sold out of 2, added to 29 and reduced 54. The biggest buy was Coherent (COHR, shares +1%) and the biggest sale Exxon Mobil (XOM, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001142062
- Portfolio Value
- $351.8M (Q2 2025)
- SEC Filing
- 0001398344-25-015399 ↗ filed Aug 14, 2025
Holdings Value
Holdings 110 stocks · $351.8M
| PHYS Sprott Physical Gold Trust | 6.24% | 866,612 | $22.0M | Reduce -0.7% |
| XOM Exxon Mobil Corp. | 4.80% | 156,771 | $16.9M | Reduce -3.6% |
| COHR Coherent Corp. | 3.89% | 153,593 | $13.7M | Add +1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.86% | 27,981 | $13.6M | Reduce -4.2% |
| EQT Eqt Corp. | 3.82% | 230,707 | $13.5M | Reduce -1.8% |
| BN Brookfield Corp. | 3.65% | 207,634 | $12.8M | Reduce -0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 3.41% | 40,646 | $12.0M | Reduce -4.1% |
| GOOG Alphabet Inc. Class C | 3.37% | 66,853 | $11.9M | Reduce -0.8% |
| FANG Diamondback Energy Inc. | 3.21% | 82,099 | $11.3M | Add +0.3% |
| CRK Comstock Resources Inc. | 3.11% | 395,228 | $10.9M | Reduce -2.5% |
| SA Seabridge Gold Inc. | 3.11% | 753,003 | $10.9M | Reduce -0.4% |
| LUMN Lumen Technologies Inc. | 3.01% | 2,419,663 | $10.6M | Reduce -0.6% |
| DELL Dell Technologies -C | 2.73% | 78,375 | $9.6M | Add +8.8% |
| QCOM Qualcomm Inc. | 2.64% | 58,302 | $9.3M | Add +2.7% |
| VNT Vontier Corp. | 2.57% | 244,678 | $9.0M | Add +2.5% |
| MSFT Microsoft Corp. | 2.43% | 17,223 | $8.6M | Add +23.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.42% | 68,574 | $8.5M | Reduce -1.1% |
| SW Smurfit Westrock PLC | 2.15% | 175,653 | $7.6M | Reduce -0.6% |
| ELV Elevance Health Inc. | 2.04% | 18,470 | $7.2M | Add +7.3% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.81% | 188,333 | $6.4M | Reduce -0.6% |
| PR Permian Resources Corp. Class A | 1.79% | 461,634 | $6.3M | Reduce -0.2% |
| ACGL Arch Capital Group Ltd. | 1.71% | 65,945 | $6.0M | Add +38.7% |
| INTC Intel Corp. | 1.68% | 263,260 | $5.9M | Add +4.1% |
| UNH Unitedhealth Group Inc. | 1.67% | 18,843 | $5.9M | Add +87.5% |
| TMO Thermo Fisher Scientific Inc. | 1.64% | 14,210 | $5.8M | Add +66.0% |
| KW Kennedy-Wilson Holdings Inc. | 1.55% | 799,519 | $5.4M | Add +27.0% |
| CME Cme Group Inc. | 1.50% | 19,177 | $5.3M | Reduce -7.4% |
| SWK Stanley Black & Decker Inc. | 1.47% | 76,462 | $5.2M | Add +3.3% |
| CI The Cigna Group | 1.45% | 15,409 | $5.1M | Add +4.1% |
| META Meta Platforms Inc. Class A | 1.41% | 6,731 | $5.0M | Reduce -0.7% |
| ILMN Illumina Inc. | 1.33% | 49,065 | $4.7M | Add +10.6% |
| DHR Danaher Corp. | 1.27% | 22,593 | $4.5M | Add +15.9% |
| VRSN Verisign Inc. | 1.24% | 15,109 | $4.4M | Reduce -2.0% |
| WDAY Workday Inc. Class A | 1.17% | 17,214 | $4.1M | Add +0.8% |
| COP Conocophillips | 1.11% | 43,638 | $3.9M | Add +0.3% |
| ST Sensata Technologies Holdplc | 1.06% | 124,074 | $3.7M | Add +15.8% |
| CMCO Columbus McKinnon Corp. | 1.05% | 242,574 | $3.7M | Reduce -0.9% |
| GNRC Generac Holdings Inc. | 0.92% | 22,684 | $3.2M | Add +285.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.91% | 67,738 | $3.2M | Add +13.0% |
| MCO Moody's Corp. | 0.87% | 6,113 | $3.1M | Reduce -1.5% |
| ATKR Atkore Inc. | 0.85% | 42,196 | $3.0M | Reduce -1.2% |
| EG Everest Group Ltd. | 0.56% | 5,780 | $2.0M | Reduce -60.4% |
| BAM Brookfield Asset Mgmt-A | 0.46% | 29,169 | $1.6M | Reduce -0.3% |
| CTRA Coterra Energy Inc. | 0.36% | 50,426 | $1.3M | Reduce -2.5% |
| CRGY Crescent Energy Inc. Class A | 0.32% | 129,182 | $1.1M | Add +5.0% |
| NOG Northern Oil and Gas Inc. | 0.30% | 37,837 | $1.1M | Reduce -2.0% |
| VTOL Bristow Group Inc. | 0.29% | 30,639 | $1.0M | Add +3.5% |
| DVN Devon Energy Corp. | 0.29% | 31,727 | $1.0M | Reduce -4.0% |
| MA Mastercard Inc. Class A | 0.27% | 1,672 | $940K | Reduce -3.0% |
| VIG Vanguard Dividend Apprec ETF | 0.26% | 4,402 | $901K | Reduce -2.7% |
| AZZ Azz Inc. | 0.25% | 9,386 | $887K | Reduce -6.1% |
| RSP Invesco S&P 500 Equal Weight | 0.25% | 4,857 | $883K | Reduce -3.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.22% | 2,590 | $787K | Reduce -1.4% |
| OVV Ovintiv Inc. | 0.22% | 19,888 | $757K | Reduce -0.2% |
| SEI Solaris Energy Infrastructur | 0.21% | 26,712 | $756K | No change |
| ERO Ero Copper Corp. | 0.21% | 43,508 | $733K | No change |
| GDXJ Vaneck Junior Gold Miners | 0.20% | 10,353 | $700K | Reduce -0.0% |
| VEA Vanguard Ftse Developed ETF | 0.20% | 12,246 | $698K | Reduce -3.8% |
| MOAT Vaneck Morningstar Wide Moat | 0.19% | 6,996 | $656K | Reduce -9.1% |
| XLE SS Energy Select Sector | 0.18% | 7,305 | $620K | Reduce -3.8% |
| VTLE Vital Energy Inc. | 0.17% | 37,619 | $605K | Add +25.2% |
| AEM Agnico Eagle Mines Ltd. | 0.16% | 4,847 | $576K | No change |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.16% | 14,226 | $569K | Reduce -4.4% |
| TRS Trimas Corp. | 0.16% | 19,566 | $560K | Reduce -15.7% |
| VOO Vanguard S&P 500 ETF | 0.15% | 942 | $535K | Reduce -9.4% |
| TXN Texas Instruments Inc. | 0.15% | 2,483 | $516K | Reduce -55.1% |
| CVX Chevron Corp. | 0.15% | 3,598 | $515K | Reduce -0.5% |
| XOP SS SPDR S&P Og Exp & Prod | 0.14% | 3,780 | $475K | Reduce -5.0% |
| PSLV Sprott Physical Silver Trust | 0.13% | 37,819 | $463K | Reduce -0.7% |
| VYM Vanguard High DVD Yield ETF | 0.13% | 3,302 | $440K | Reduce -2.0% |
| SU Suncor Energy Inc. | 0.10% | 9,244 | $346K | Reduce -0.2% |
| T AT&T Inc. | 0.10% | 11,945 | $346K | No change |
| VYMI Vanguard Int High DVD YLD Inc. | 0.09% | 4,134 | $331K | Reduce -2.1% |
| BTE Baytex Energy Corp. | 0.09% | 179,446 | $321K | Reduce -2.1% |
| AR Antero Resources Corp. | 0.09% | 7,895 | $318K | No change |
| AMZN Amazon.com Inc. | 0.09% | 1,442 | $316K | New |
| SPSM SS SPDR P S&P 600 Small Cap | 0.09% | 7,270 | $310K | Reduce -8.5% |
| EPD Enterprise Products Partners | 0.08% | 8,800 | $273K | New |
| ET Energy Transfer LP | 0.08% | 14,797 | $268K | New |
| RRC Range Resources Corp. | 0.07% | 6,490 | $264K | No change |
| URA Global X Uranium ETF | 0.07% | 6,407 | $249K | New |
| TALO Talos Energy Inc. | 0.06% | 26,734 | $227K | Reduce -1.9% |
| KMI Kinder Morgan Inc. | 0.06% | 7,500 | $221K | New |
| MPLX MPLX LP | 0.06% | 3,990 | $206K | New |
| HL Hecla Mining Co. | 0.03% | 17,000 | $102K | No change |
| GDX Vaneck Gold Miners ETF | 0.02% | 1,590 | $83K | Reduce -4.8% |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 0.02% | 2,356 | $78K | Reduce -3.6% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.02% | 370 | $72K | No change |
| RIG Transocean Ltd. | 0.02% | 27,410 | $71K | Add +6.5% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.02% | 225 | $64K | Reduce -3.9% |
| SCHD Schwab US DVD Equity ETF | 0.01% | 1,904 | $50K | Reduce -1.0% |
| BIZD Vaneck BDC Income ETF | 0.01% | 3,000 | $49K | New |
| REI Ring Energy Inc. | 0.01% | 36,361 | $29K | Add +55.6% |
| EU Encore Energy Corp. | 0.01% | 10,000 | $29K | No change |
| NLR Vaneck Urani & Nuclr ETF-Usd | 0.01% | 216 | $24K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.01% | 124 | $22K | Add +63.2% |
| VNQ Vanguard Real Estate ETF | 0.01% | 222 | $20K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.01% | 43 | $19K | Add +65.4% |
| XLF SS Financial Select Sector | 0.00% | 218 | $11K | Reduce -18.7% |
| DJD Invesco Dow Jones Industrial | 0.00% | 150 | $8K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| XOM Exxon Mobil Corp. | Reduce -3.6% | 4.80% | −1.12 |
| EG Everest Group Ltd. | Reduce -60.4% | 0.56% | −1.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.2% | 3.86% | −0.90 |
| SLB SLB Ltd. | Reduce -0.6% | 1.81% | −0.62 |
| SW Smurfit Westrock PLC | Reduce -0.6% | 2.15% | −0.28 |
| CMCO Columbus McKinnon Corp. | Reduce -0.9% | 1.05% | −0.22 |
| PHYS Sprott Physical Gold Trust | Reduce -0.7% | 6.24% | −0.18 |
| CME Cme Group Inc. | Reduce -7.4% | 1.50% | −0.18 |
| PR Permian Resources Corp. Class A | Reduce -0.2% | 1.79% | −0.17 |
| TXN Texas Instruments Inc. | Reduce -55.1% | 0.15% | −0.16 |
| CTRA Coterra Energy Inc. | Reduce -2.5% | 0.36% | −0.09 |
| DVN Devon Energy Corp. | Reduce -4.0% | 0.29% | −0.09 |
| NOG Northern Oil and Gas Inc. | Reduce -2.0% | 0.30% | −0.05 |
| OVV Ovintiv Inc. | Reduce -0.2% | 0.22% | −0.05 |
| XLE SS Energy Select Sector | Reduce -3.8% | 0.18% | −0.04 |
| CVX Chevron Corp. | Reduce -0.5% | 0.15% | −0.04 |
| BTE Baytex Energy Corp. | Reduce -2.1% | 0.09% | −0.03 |
| VRN Veren Inc. | Sold out | 0.00% | −0.03 |
| XOP SS SPDR S&P Og Exp & Prod | Reduce -5.0% | 0.14% | −0.03 |
| MA Mastercard Inc. Class A | Reduce -3.0% | 0.27% | −0.02 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -9.1% | 0.19% | −0.02 |
| EQT Eqt Corp. | Reduce -1.8% | 3.82% | −0.02 |
| TALO Talos Energy Inc. | Reduce -1.9% | 0.06% | −0.02 |
| RSP Invesco S&P 500 Equal Weight | Reduce -3.3% | 0.25% | −0.02 |
| MCO Moody's Corp. | Reduce -1.5% | 0.87% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Reduce -2.7% | 0.26% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -9.4% | 0.15% | −0.01 |
| SU Suncor Energy Inc. | Reduce -0.2% | 0.10% | −0.01 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -8.5% | 0.09% | −0.01 |
| VYM Vanguard High DVD Yield ETF | Reduce -2.0% | 0.13% | −0.01 |
| TRS Trimas Corp. | Reduce -15.7% | 0.16% | −0.01 |
| AZZ Azz Inc. | Reduce -6.1% | 0.25% | −0.00 |
| PSLV Sprott Physical Silver Trust | Reduce -0.7% | 0.13% | −0.00 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Reduce -4.4% | 0.16% | −0.00 |
| SCHD Schwab US DVD Equity ETF | Reduce -1.0% | 0.01% | −0.00 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -2.1% | 0.09% | −0.00 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | Reduce -3.6% | 0.02% | −0.00 |
| XLF SS Financial Select Sector | Reduce -18.7% | 0.00% | −0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -46.1% | 0.00% | −0.00 |
| PFXF Vaneck Pref Sec X-Financials | Sold out | 0.00% | −0.00 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -3.9% | 0.02% | −0.00 |
| GDX Vaneck Gold Miners ETF | Reduce -4.8% | 0.02% | 0.00 |
| VEA Vanguard Ftse Developed ETF | Reduce -3.8% | 0.20% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.4% | 0.22% | +0.00 |
| GDXJ Vaneck Junior Gold Miners | Reduce -0.0% | 0.20% | +0.02 |
| BAM Brookfield Asset Mgmt-A | Reduce -0.3% | 0.46% | +0.02 |
| VRSN Verisign Inc. | Reduce -2.0% | 1.24% | +0.04 |
| ATKR Atkore Inc. | Reduce -1.2% | 0.85% | +0.06 |
| LUMN Lumen Technologies Inc. | Reduce -0.6% | 3.01% | +0.09 |
| GOOG Alphabet Inc. Class C | Reduce -0.8% | 3.37% | +0.15 |
Portfolio Buys Q1 2025 → Q2 2025
| COHR Coherent Corp. | Add +1.3% | 3.89% | +0.88 |
| MSFT Microsoft Corp. | Add +23.0% | 2.43% | +0.83 |
| DELL Dell Technologies -C | Add +8.8% | 2.73% | +0.72 |
| GNRC Generac Holdings Inc. | Add +285.6% | 0.92% | +0.70 |
| TMO Thermo Fisher Scientific Inc. | Add +66.0% | 1.64% | +0.33 |
| ACGL Arch Capital Group Ltd. | Add +38.7% | 1.71% | +0.31 |
| ST Sensata Technologies Holdplc | Add +15.8% | 1.06% | +0.27 |
| ILMN Illumina Inc. | Add +10.6% | 1.33% | +0.25 |
| VNT Vontier Corp. | Add +2.5% | 2.57% | +0.17 |
| BAC Bank of America Corp. | Add +13.0% | 0.91% | +0.14 |
| AMZN Amazon.com Inc. | New | 0.09% | +0.09 |
| EPD Enterprise Products Partners | New | 0.08% | +0.08 |
| ET Energy Transfer LP | New | 0.08% | +0.08 |
| URA Global X Uranium ETF | New | 0.07% | +0.07 |
| KMI Kinder Morgan Inc. | New | 0.06% | +0.06 |
| UNH Unitedhealth Group Inc. | Add +87.5% | 1.67% | +0.06 |
| MPLX MPLX LP | New | 0.06% | +0.06 |
| DHR Danaher Corp. | Add +15.9% | 1.27% | +0.04 |
| BIZD Vaneck BDC Income ETF | New | 0.01% | +0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +65.4% | 0.01% | +0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +63.2% | 0.01% | +0.00 |
| EFAS Global X MSCI Superdividend | New | 0.00% | +0.00 |
| VTOL Bristow Group Inc. | Add +3.5% | 0.29% | +0.00 |
| SIL Global X Silver Miners ETF | New | 0.00% | +0.00 |
| GOOGL Alphabet Inc. Class A | Add +9.5% | 0.00% | +0.00 |
| XLK SS Technology Select Sector | New | 0.00% | +0.00 |
| REI Ring Energy Inc. | Add +55.6% | 0.01% | 0.00 |
| RIG Transocean Ltd. | Add +6.5% | 0.02% | −0.00 |
| VTLE Vital Energy Inc. | Add +25.2% | 0.17% | −0.02 |
| QCOM Qualcomm Inc. | Add +2.7% | 2.64% | −0.03 |
| CI The Cigna Group | Add +4.1% | 1.45% | −0.04 |
| WDAY Workday Inc. Class A | Add +0.8% | 1.17% | −0.05 |
| INTC Intel Corp. | Add +4.1% | 1.68% | −0.08 |
| CRGY Crescent Energy Inc. Class A | Add +5.0% | 0.32% | −0.11 |
| KW Kennedy-Wilson Holdings Inc. | Add +27.0% | 1.55% | −0.13 |
| ELV Elevance Health Inc. | Add +7.3% | 2.04% | −0.25 |
| SWK Stanley Black & Decker Inc. | Add +3.3% | 1.47% | −0.27 |
| COP Conocophillips | Add +0.3% | 1.11% | −0.29 |
| FANG Diamondback Energy Inc. | Add +0.3% | 3.21% | −0.80 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 120 | $473.3M | DELL, PHYS, INTC, LUMN, XOM |
| Q1 2026 | 133 | $436.2M | PHYS, XOM, SA, LUMN, FANG |
| Q4 2025 | 126 | $436.5M | PHYS, COHR, SA, LUMN, GOOG |
| Q3 2025 | 106 | $399.2M | PHYS, SA, XOM, GOOG, COHR |
| Q2 2025 | 110 | $351.8M | PHYS, XOM, COHR, BRK.B, EQT |
| Q1 2025 | 102 | $326.6M | PHYS, XOM, BRK.B, FANG, EQT |
| Q4 2024 | 109 | $347.0M | BRK.B, XOM, PHYS, COHR, GOOG |
| Q3 2024 | 107 | $345.7M | BRK.B, XOM, PHYS, LUMN, FANG |
| Q2 2024 | 108 | $337.0M | BRK.B, XOM, FANG, PHYS, GOOG |
| Q1 2024 | 111 | $341.0M | BRK.B, PXD, FANG, PHYS, GOOG |